Art’s-Way Manufacturing CEO David King Departs; Chairman Marc McConnell Appointed President and CEO

ARTS WAY MANUFACTURING CO INC

David King’s employment terminated mutually effective Oct 1, 2024; severance includes 12 weeks salary.
Marc McConnell, chairman since April 2015, appointed President and CEO effective Oct 4, 2024.
Q3 fiscal 2024 sales fell 27.6% to $5.876M; net income just $2K vs $241K year ago.
Nine-month net loss was $427K vs net income $921K prior year; agricultural segment sales down 32.1%.
Modular Buildings segment sales up 11.6% in Q3 driven by large research projects.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

David A. King

Chief Executive Officer

ARTW · ARTS WAY MANUFACTURING CO INC

Effective: 2024-10-01
Successor: Marc H. McConnell
Filed: October 4, 2024, 7:59 PM ET

On October 1, 2024, Art’s-Way Manufacturing Co., Inc. (the “Company”) and David A. King, the Company’s Chief Executive Officer since 2020, mutually agreed to terminate Mr. King’s employment agreement and employment with the Company effective immediately.

Appointed

Marc H. McConnell

President and Chief Executive Officer

ARTW · ARTS WAY MANUFACTURING CO INC

Effective: 2024-10-04
Filed: October 4, 2024, 7:59 PM ET

On October 4, 2024, the Company’s Board of Directors appointed Marc H. McConnell, Chairman of the Company’s Board of Directors, to serve as President and Chief Executive Officer, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David A. King resigned as Chief Executive Officer at ARTS WAY MANUFACTURING CO INC.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On October 1, 2024, Art’s-Way Manufacturing Co., Inc. (the “Company”) and David A. King, the Company’s Chief Executive Officer since 2020, mutually agreed to terminate Mr. King’s employment agreement and employment with the Company effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Marc H. McConnell was appointed as President and Chief Executive Officer at ARTS WAY MANUFACTURING CO INC.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On October 4, 2024, the Company’s Board of Directors appointed Marc H. McConnell, Chairman of the Company’s Board of Directors, to serve as President and Chief Executive Officer, effective immediately.

View on SEC.gov

ARTS WAY MANUFACTURING CO INC filing history →

Source: SEC EDGAR

accession 0001437749-24-030702

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